- Lalithaa Jewellery Mart raised Rs 508 crore from anchor investors before IPO launch
- 2.53 crore shares allotted to 22 anchor investors at Rs 201 per share
- IPO price band set at Rs 190-201, valuing company near Rs 11,250 crore
Jewellery retailer Lalithaa Jewellery Mart Ltd on Friday raised Rs 508 crore from anchor investors, including Goldman Sachs, ICICI Prudential Mutual Fund and Bandhan Mutual Fund, days before the opening of its Rs 1,700-crore initial public offering.
The company allotted 2.53 crore equity shares to 22 anchor investors at Rs 201 apiece, according to a circular uploaded on BSE's website.
Apart from Goldman Sachs Bank Europe, ICICI Prudential MF, and Bandhan MF, other key anchor investors included Sanshi Fund-I, Kotak Mahindra Life Insurance Company, Morgan Stanley India Investment Fund and Bajaj Life Insurance.
Four domestic mutual funds were allocated 1.14 crore shares, accounting for 45.26% of the total anchor portion.
Lalithaa Jewellery Mart's IPO will open on August 17 and close on August 19. The price band has been fixed at Rs 190-201 per share, valuing the company at around Rs 11,250 crore at the upper end.
The issue comprises a fresh issue of up to Rs 1,200 crore and an offer-for-sale of up to Rs 500 crore. Proceeds from the fresh issue will primarily fund new stores.
Lalithaa Jewellery Mart, which opened its first store in Chennai's T Nagar in 1985, sells gold, silver and diamond jewellery.
The shares are proposed to be listed on the BSE and NSE on August 24.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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